Today, I did the math: if I wiped out my savings account, the joint account I have with my husband, as well as the savings accounts I started for nieces and nephews to pay for student loans, I would only owe $41,000 more. FML
Collection
Halloween
A failed costume, stolen candy and a very real scare: Halloween, the one night when fear is allowed.
Today, I realized that the closest thing I have to a savings account is the cup on my dresser with coins in it. I counted it, $17.34. That is my savings. I'm 28. FML
Today, I got an inheritance, so I was planning to put most of it in savings, and maybe buy two new cars. Alas, my wife instead decided we really needed to pay off the secret credit card debt she’s been hiding from me. Not only is the inheritance gone but so is an additional 3 grand from our savings. FML
Today, I found out that my parents are 28,000 dollars in debt and that my bank account has $27.17 in it. They took my money to help pay their debt. FML
Today, my dad came home from Vegas. Today, my college savings account is down by $64,000. FML
Today, I got a weird feeling about the account balance in my savings account. Turns out my fiancé has been using my account to order random items whenever he likes. This account is my savings for college tuition and related expenses. FML
Today, I checked my bank account that I've been saving money in since I was a kid for college. I have $100 left out of the $10,000 I had last month. Apparently my parents thought buying a pool and an HDTV for themselves was more important than my college education. FML
Today, I have -$700 in my current account, $500 from overdraft fees because I spent money they told me I had. I don't get paid till the 15th and when I cash in my paycheck all of it will go to bringing me even. So the $9 I found in my wallet this morning will have to last me untill the 30th. FML
Today, my dad had something to tell me. He'd cleaned out my bank account to pay off 38,000 dollars worth of gambling debt. My wedding is in 5 months. FML
Today, my wife says she's not hiding money from me but I checked our joint bank account, which I no longer use, and find she's been transferring money in-and-out of 3 accounts, while taking money from me and getting payday loans to cover it. FML
Today, I found out that my girlfriend of almost 6 years has put me in debt over $33,000. FML
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Top comments
RichardPencil 32
Why do you save for your nieces and nephews when you are drowning in your own debt? Paying for distant relatives' schooling is a luxury reserved for those with positive net worth.
dreams2383 20
get on a tight written budget, don't step food to any fast food restaurants unless you work there, cut all extra subscriptions you can, sell the car if you owe on it and pay cash for a beater, take all the savings except $1,000 and put it all on debt smallest to largest. attack the smallest. pay minimum on the rest. once the smallest is paid off use that money to attack next debt. that's how I paid off 185k in 4 years. I sold everything
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Comments (4)
RichardPencil 32
Why do you save for your nieces and nephews when you are drowning in your own debt? Paying for distant relatives' schooling is a luxury reserved for those with positive net worth.
Chazzster 32
When you realize you are in a hole - Stop digging… I agree that if you are drowning in debt, forget about helping nephews and nieces and concentrate on getting your own house in order… Just how dire your situation actually is depends in large part on the nature of your debt. If it’s in an investment like a home or a college education that will lead to a better career then you gained something of great future value in exchange for your debt. On the other hand, especially if it’s credit card debt for things you won’t have in a year, then you are screwed and it’s going to be a difficult climb… I get it, we have all been in debt and it’s not easy making ends meet now and paying your debts. It can create a terrible cycle in which you pay your monthly payments and then live in your credit card ensuring you will never be debt free. I also started off with student loans and even with an engineer’s salary I paid for about as long as I had been in college. Shit happens and sometimes it’s truly unavoidable. But many times we do it to ourselves… OP, the beginning of a solution is to realize there is a problem - You are now there. The next step is to own the problem and figure out realistically how you are going to address the problem. The longer it took for the problem to build up, the longer it will take to solve it. You aren’t going to win the lottery and you cannot depend on anyone else to make the problem go away - You will have to deal with the problem yourself. You have my sympathy, most of us have been where you are now at some point in our life.
dreams2383 20
get on a tight written budget, don't step food to any fast food restaurants unless you work there, cut all extra subscriptions you can, sell the car if you owe on it and pay cash for a beater, take all the savings except $1,000 and put it all on debt smallest to largest. attack the smallest. pay minimum on the rest. once the smallest is paid off use that money to attack next debt. that's how I paid off 185k in 4 years. I sold everything
core01 30
You paid 46,000 per year? The median income in the US is less than what you paid out per year